Artificial intelligence


Vardina Hilloo

BeyondMinds, which already services Microsoft, Samsung, to use funds from
Marius Nacht and Grove Ventures to further expand in global market.
BeyondMinds, an artificial intelligence startup developing a universally applicable and easily
adaptable AI solution, has raised $15 million co-led by leading Israeli venture capita
l fund Grove Ventures and private investor Marius Nacht. The infusion of funds will finance
its global expansion and the ongoing development of its innovative AI solution, and strengthen
its management team with prominent executives. BeyondMinds is accelerating the wide-scale adoption
of AI by enabling companies to successfully overcome the challenges that have prevented AI from proceeding
"beyond" theoretical proof-of-concept exercises to robust and resilient deployments.

Israel is now considered to be a cyber power. A similar process to what happened in the field
of cyber happens recently with an artificial intelligence margin.
There is broad agreement on what President Putin declered once: "A country that leads to artificial intelligence
will rule the world”, and the race for competition between the leading countries has started 
and considered to be the most fascinating in the global future.
Israel's main challenge is to lead the artificial intelligence industry . Professional experts believe
that the process that led to the transformation of the country into a global cyber power might also
occur in that topic.
Today, there are about 900 Israeli high-tech companies operating in this field, most of them started
in the last three years.  Since Israel  well known as a cyber power, about 400 high-tech companies
operating in the field, and with a national cyber network, seven Israeli cyber companies ranked among
the 100 best cyber companies in the world.

What should happen in order to cause an Israeli breakthrough in artificial intelligence.
According to experts it is a combination of scientific and engineering and achievements in recent years, which
led to rapid progress in the capabilities of data science and artificial intelligence in Israel, a trend that
is accelerating in many countries around the world as well.

Data from the Ministry of Science show that Israel has 898 technology companies defined as dealing
with artificial intelligence shows a Indicate signs of significant progress in the field like , machine learning,
and large data analysis. Companies offer artificial intelligence applications to a variety of areas such
as social networking, online commerce, digital health, security and security, and more

The data also show that over 65% of the companies were established over the past five years (591).
If in 2008 only 14 new companies were established each year, in 2016 the number jumped to a record
186 new companies per year and in 2017 131 new companies were established. The vast majority
are start-ups and under 10 employees, while only about 10% are mature companies with more than
50 employees.  Ten companies were established in the 1990s, companies that are already established
in the field and employ more than 200 employees - NICE, RADCOM, Essence, G-STAT, Mobileye and more.
Most of the companies are concentrated in the central region, with 398 of them located within the city
limits of Tel Aviv-Jaffa.  The Data based on telecom news magazine.

A report by PWC predicts that artificial intelligence is expected to contribute $ 15.7 trillion to the world
economy by 2030, that global GDP will rise by an average of 14 percent as a result of improvements in
artificial intelligence and that $ 6.6 trillion will come from productivity growth, Using robots and automation
of jobs. Another contribution will come from increased demand for high-quality, customized or improved
production, which will enable the new technology. However, the number of studies that are directly linked
to artificial intelligence is not large in Israeli academia. Recently, the Ministry of Science launched a
new program to promote and encourage research in this field in academia. Among the studies
are funding: face recognition in computerized images, computerized identification of biological cells, and more.

Due to the rapid pace of development in high tech and the demand from local companies and
global companies that open development centers in Israel every day, there is a huge demand for skilled 
manpower, especially in this field, where competition for highly skilled manpower resources and
headlines about theft of talent. On the other hand, the employment market is expected to
undergo drastic changes as a result of the number of professions, which will be significantly reduce.


20.11.2020